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08-21-17-WS
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08-21-17-WS
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City of Arden Hills – 20430 Comprehensive Plan <br /> <br /> <br />Approved: September 28, 201809 Amended: December 12, 2016 <br />7-15 <br />integration. Any Arden Hills residents that feel they have been subjected to unfair <br />housing practices should contact this organization. Arden Hills encourages the <br />Ramsey County CED to continue the implementation of its fair housing policy. <br />Land Trusts: There is no established Land Trust serving the City of Arden Hills <br />currently. Should a Land Trust be established, the Rondo Community Land Trust <br />in St. Paul would be a good model to use. <br />7.5.3 Fiscal Devices <br /> <br />Fiscal devices, such as revenue bonds, tax increment, financing, or tax <br />abatement can be used to help ease the construction and availability of <br />affordable housing in the City of Arden Hills. <br />Development Authorities: Arden Hills does not have its own Housing and <br />Redevelopment Authority (HRA) and depends on Ramsey County Coordinate <br />HRA for affordable housing and redevelopment services. Arden Hills <br />encourages Ramsey County to construct, finance and/or partner with private <br />developers to provide affordable housing for those Arden Hills residents in need. <br />Housing Bonds: Minnesota State Statute allows HRAs the ability to issue <br />housing bonds to provide affordable housing. Arden Hills encourages the <br />Ramsey County HRA to issue housing bonds to provide affordable housing for <br />those Arden Hills residents in need. <br />Tax Abatement: Cities may issue bonds to be used to support the construction <br />of affordable housing and use a portion of the property tax received (tax <br />abatement) from the development to finance these bonds. This removes this <br />property taxes revenue from paying for the services needed for this property, its <br />residents and the community in general. The City will develop a tax abatement <br />policy to determine when the level of affordable housing and the guaranteed <br />length of affordability to provide a public benefit great enough to justify the use of <br />tax abatement. <br />Tax Increment Financing: Cities may create a housing district to create a tax <br />increment financing (TIF) district. The TIF bonds issued on this district are to be <br />used to support the construction of affordable housing and entire property taxes <br />received above the original tax value (increment) from the development to
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